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1. What is Chicken Lure?
2. Common Tactics of Chicken Luring.
3. What to do to avoid becoming the lured chicken?.
1. What is Chicken Lure?
Chicken lure, in the literal sense, is the action of holding a broom, stick, cane,... or using hands to wave, chase, or drive chickens into a corner for confinement or slaughter.
In the cryptocurrency trading market, 'chicken lure' is understood as the action where coin/token issuers hire YouTubers, streamers, hot girls (chicken lurers) to promote and attract players (chickens). Through sweet-talk advertisements, promising huge profits, and getting rich quickly, 'chicken' investors will be lured into the coop.
Once 'getting in the game,' the 'chickens' will encounter certain risks. Common disadvantages include being abandoned by the chicken lurers, having no one accountable for transactions with virtual money, or losing the invested amount.
What does Chicken Lure mean? What is Chicken Lure in the stock market?
2. Common Tactics of Chicken Luring
Similar to the card tricks of candlestick experts, candle carving in July, August 2021, to attract investors (chickens) to pump money, those who 'chicken lure' often use tactics such as:
- Flaunting bank account numbers with massive balances through business and investment in any virtual currency/coin. Spreading wealth with the image of a successful young entrepreneur, loaded with money, driving luxurious cars, shopping for branded items, dining out, visiting expensive places, living the self-help lifestyle with the desire to inspire positive energy in the community.
- Building networks, communities on social media to lure participants with a series of examples of investing in imaginary money, reaping huge benefits in a short period.
- Urging investments, promising to guide and assist investors in making money by investing in projects.
Virtual money lure in Forex, Bitcoin, BO, and common luring tactics.
Recently, the Gét gô challenge has been gaining popularity with many people participating and the phrase causing a stir on social media platforms such as Facebook and TikTok. So, what does Gét gô mean? Let's find out through the article below.
- Read more: What does Gét gô mean
3. What to do to avoid becoming a lured chicken?
As analyzed above, those who 'lure chickens' will rely on people's trust and greed to 'lead' and 'slaughter chickens.' Therefore, to avoid becoming fat and easily lured chickens, you need to prepare certain knowledge about the cryptocurrency market as well as careful consideration and calculation before investing. Some advice to consider includes:
- Don't blindly follow cryptocurrency experts, investment experts on social media, or false rumors from forums and markets.
- Learn, research cryptocurrency investment knowledge, find a good, experienced mentor in the cryptocurrency investment market.
- Avoid investing in low liquidity funds.
- Be cautious in investing, manage personal finances, and learn how to control greed.
With information about what chicken luring is in the cryptocurrency trading markets such as Bitcoin, Token, Forex, surely you have found the answer to stock market chicken luring in the virtual currency investment market, haven't you? Once again, Mytour advises you to be cautious with your investments because the virtual currency trading market contains various risks. Don't let yourself become fat chickens led into the coop and slaughtered by these luring entities!
To understand more about the tricks, methods of luring prey by stock market, cryptocurrency experts, you can learn more in our article What is candle manipulation? What is candle carving by us.
